On January 1, a company issues bonds dated January 1 with a par value of $650,000. The bonds mature in 3 years. The contract rate is 6%, and interest is paid semiannually on June 30 and December 31, The bonds are sold for S62000. The journal entry to record the first interest payment using straight -line amortization is: Multiple Choice Debit Interest Payable $19,500, credit Cash $19,500 Debit Interest Expense $19,500, credit Cash $19,500 Debl Interest xpense $23.500, credt Dlscount on Bonds Payable $4,000 credr Cash $19.500. Debit Interest Expense $15,500, debit Discount on Bonds Payable $4,000, credit Cash $19,500 Debit Interest Expense $19,500, credit Premium on Bonds Payable $4,000, credit Cash $15,500